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Money natters: Behind the scenes interview with co-founder Joyanne

26-04-2017

By Kimberley Bailey

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Creative entrepreneur Joyanne talks goals, start-ups & money

Following her passion and niche craft Joyanne Horscroft, 30, set up her own business with best friend Julie called the Makerie Studio which designs and creates stunning, bespoke set designs and installations. Living in South East London with her beloved dog, Joyanne has the likes of Prada, Victoria’s Secret and Nike on her client list.

Dreams

Q: When you were a kid, what aspirations and dreams did you have for your future?

A: When I was younger I was more focused on things I wanted to avoid. I didn't want to have to rely on other people. The goal I had in mind was simply making sure I could create a good life for myself.

Q: Are you in your ideal job?

A: Yes. Definitely. There are times when I look back to earlier stages in our business that I could have dealt with better so it’s not always perfect but I feel like I learn and grow all the time using a skill that I have and a job I love.

Q: If you were given £10,000, or even £50,000, what would you do with it?

A: Honestly, without hesitation, it would go into work. I’d hire apprentices, move the studio into a bigger and better space and invest in more equipment. Anything that would allow me to focus less on the smaller, less creative, day to day things and also push the expansion of the business.

Q: Who inspires you?

A: I don’t know if there's any one person who inspires me in the sense that I want to be like them, but I do read a lot of inspirational books by people like Eckhart Tolle and Deepak Chopra and watch motivational videos and speeches by Tony Robbins. I find them to be inspirational for my personal growth, and they're self-made too.

Money management

Q: On a scale of 1 to 10, how savvy do you think you are with your money and do you feel there are areas for improvement?
A: I’d say I’m a 6. I'm good at maximising my budget, but when it actually comes to balancing my books I'm not very savvy at that. That’s why I have an accountant. That being said, I could improve by keeping better tabs on my outgoings. Also sometimes it takes eight months to get paid for a job so I have to be mindful of that when I'm spending.

Q: Where did you learn to manage your money?

A: My mum, definitely. She’s always been very good at being careful and she was the main breadwinner in our family. However, I feel I also learned by seeing what happens to people when they’re not realistic about the cost of living or how to save. I do kind of think that nobody can teach you necessarily, you just figure it out. Especially when you've made a mistake or you're getting penalties for late payments, but the HMRC website is pretty fool-proof for things like that, or blogs on money management.

Q: What is your biggest money weakness?

A: Not knowing what I would like to spend my money on outside of work, then I just buy things on a whim without thinking about whether I really want it. I think I can be irresponsible like that.

Attitude towards money

Q: If you had to pick three words to describe how you feel about money, what would they be?
A: Freedom, opportunity for sharing - although obviously not one word - and praise.

Q: And if you had to pick three words to describe your future, what would they be?

A: Growth, exploration and uncertainty… But in a good way. I'm open to things changing.

Q: What makes you most curious in relation to money?

A: I’m curious about how, if I think about it honestly, do I feel about the money I make? And how to strike a balance between it being a freedom or a burden in the way that it dominates your actions, because if I'm stressed about it then what's the point?

Q: What purchases do you think have been your best or ones you've regretted the most, and why?

A: In my personal life, my best purchase has definitely been my dog. She's the gift that keeps on giving! Within the context of my business my best purchases have been my MacBook Pro and my graphic plotter [used for cutting out her designs]. Worst? Nothing that really stands out.

Decisions & influences on them

Q: If there was one decision in your life that you could go back to and change, what would it be and why?
A: I just wish I'd done more at university like internships and got that ball rolling before I left university in Bath and moved to London. I wish I was also less indecisive about what I wanted.

Q: What are you most proud of in your life?
A: My business. I feel like I can one hundred percent talk about it without any embarrassment at all. It takes a little while for me to actually explain what it is that I do, but I'm really proud

Q: What do you imagine changing in your life in the next 2 years?
A: In the next couple of months I hope to get on the property ladder through the new Help to Buy scheme. In the longer term, I’d employee a permanent team. I think it’s all about finding ways to be able to enjoy the business I have without getting too bogged down with the other stuff. I want to feel like it serves me rather than I serve it, and then I would be able to explore what it is that I want to do with my personal time.

Q: What is the best piece of advice you’ve ever been given in life? And what’s the worst?
A: That’s tricky. I know that my business partner - who is based in New York - is always there if I need to feel inspired or motivated. She's probably my most trusted advice-giver. As for worst advice, it’s only ever really bad if you take it but, I was always told at university to be very broad. I understand that logic - if you've got a big net you catch more fish - but what I do is very specialised and I've found being a Jack of all trades didn't benefit me really.

Work & lifestyle

Q: What are your top money priorities for the next couple of years?
A: In terms of management, I want to get myself from a 6 to more of an 8.5 on the money savvy scale; endeavouring to be on time with my back payments and a bit more aware of all of that. Ultimately being more in control of why my statements look the way they do. I also want to become more comfortable in spending money on myself… working on buying my own home will be a part of that I think so I can invest on my personal environment.

Q: What is the biggest financial goal you’re working towards?
A: My ultimate dream would be to get the business to the point where I don't need to be there to run things day to day. I'd like to feel like I'd passed on what I know so other people can learn and that I'm not the be all and end all of the business running. That would give me a lot more freedom.

To take a look at what Joyanne's business, The Makerie Studio, check out the website here: www.makeriestudio.com

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